Shri Mohammad Quamrul Huda has ceased to be the Executive Director (ED) of Power Grid Corporation of India Limited effective May 31, 2026, upon attaining the age of superannuation. The departure of the senior management personnel, who was positioned one level below the Board of Directors, was communicated to the stock exchanges as a material change in leadership.

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing provided specific details regarding the cessation, including the reason and the effective date, as required by the relevant provisions of the SEBI Master Circular dated January 30, 2026.

Details of Cessation

The following table outlines the key details regarding the change in senior management:

The notification was signed by Satyaprakash Dash, the Company Secretary and Compliance Officer, and submitted to the National Stock Exchange of India Limited and BSE Limited on May 31, 2026.

Power Grid Corporation of India acquired Tumkur II RE Transmission Limited (TRETL) for an aggregate value of ₹15.46 crore on May 29, 2026. The acquisition was completed under the Tariff Based Competitive Bidding (TBCB) route following Power Grid's selection as the successful bidder. This strategic move allows Power Grid to establish a transmission system for integrating 2.7 GW of additional renewable energy potential in Karnataka on a build, own, operate, and transfer (BOOT) basis.

The project comprises a 400 kV double-circuit transmission line traversing Karnataka, along with augmentation works at the Tumkur-II Pooling Station. TRETL was incorporated on September 24, 2025, by the Bid Process Coordinator, PFC Consulting Limited (PFCCL), in accordance with guidelines from the Ministry of Power. The entity is yet to commence commercial operations and has recorded no turnover in the last three years.

Acquisition Details

The transaction involved a cash consideration for 100% of the shareholding, comprising 10,000 equity shares at par value of ₹10 each, along with the assets and liabilities of TRETL as of the acquisition date. The final acquisition price is subject to adjustment based on the audited accounts of the company as of May 29, 2026. Power Grid confirmed that the transaction does not fall within related party transactions and was conducted at arm's length.

Regulatory Approvals and Timeline

TRETL was incorporated under the 'Guidelines Encouraging Competition in Development of Transmission Projects' and the 'Tariff Based Competitive Bidding Guidelines for Transmission Service' notified by the Ministry of Power. Requisite approvals for the transfer of TRETL were obtained by the Bid Process Coordinator. Post-acquisition, TRETL is required to secure approvals for the Grant of Transmission License and Adoption of Transmission Charges from the Central Electricity Regulatory Commission.